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Seb Kennedy's picture
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I am professional energy journalist, writer and editor who has been chronicling the renewables and fossil fuel energy sectors since 2008.  I am passionate about the energy transition, so much so...

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  • Sep 10, 2020
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This article examines the disconnect between the spending priorities of oil exporting countries and their customers, import-dependent nations. While exporters are doubling down on fossil fuel subsidies, data indicates importers are ploughing a greater share of Covid-19 stimulus funding into decarbonising their energy systems. The take-away message is that the disconnect can only exacerbate the structural imbalance risk posed by the energy transition that imperils coal and oil exporting countries. 

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Matt Chester's picture
Matt Chester on Sep 10, 2020

The take-away message is that the disconnect can only exacerbate the structural imbalance risk posed by the energy transition that imperils coal and oil exporting countries. 

It's understandable that for countries whose economies entirely depend on fossil fuels that they can and will do whatever they can to extend the advantages those bring. This isn't an area that I see discussed enough when it comes to fostering the global energy transition-- how do you tackle these countries and their carbon economies? 

Seb Kennedy's picture
Seb Kennedy on Sep 15, 2020

Indeed, it is a huge challenge. Re-tooling and diversifying developing economies geared around oil rents is a challenge that is as old as the industry itself. Consumer-side regulation will be key: the EU has a pivotal leadership role to play e.g. via carbon border tax, methane standards etc. Market power is shifting from the energy supply side to the buyer side, so importing countries have an opportunity to raise the emissions bar of the products they buy and set global standards. If there was an OPEC for oil importing countries, this would be a good place to start.

Matt Chester's picture
Matt Chester on Sep 15, 2020

If there was an OPEC for oil importing countries, this would be a good place to start.

Now that's an interesting idea!

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